Truvestments Capital LLC Has $278,000 Stock Position in Ulta Beauty Inc. $ULTA

Key Points

• Truvestments Capital LLC reduced its stake in Ulta Beauty by 59.7%, selling 1,123 shares and retaining 759 shares valued at $278,000.
• Ulta Beauty reported earnings of $6.70 EPS, exceeding analysts' expectations of $5.73, and its quarterly revenue was $2.85 billion, a 4.5% increase year-over-year.
• Several analysts have recently raised their price targets for Ulta Beauty, with UBS Group increasing its target from $525 to $640, reflecting strong market confidence.

Truvestments Capital LLC decreased its position in Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 59.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 759 shares of the specialty retailer's stock after selling 1,123 shares during the quarter. Truvestments Capital LLC's holdings in Ulta Beauty were worth $278,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. American National Bank & Trust acquired a new stake in shares of Ulta Beauty in the first quarter valued at $29,000. Wayfinding Financial LLC acquired a new stake in shares of Ulta Beauty in the first quarter valued at $31,000. Rakuten Securities Inc. lifted its holdings in shares of Ulta Beauty by 218.5% in the first quarter. Rakuten Securities Inc. now owns 86 shares of the specialty retailer's stock valued at $32,000 after buying an additional 59 shares during the period. North Star Investment Management Corp. lifted its holdings in shares of Ulta Beauty by 71.4% in the first quarter. North Star Investment Management Corp. now owns 96 shares of the specialty retailer's stock valued at $35,000 after buying an additional 40 shares during the period. Finally, Costello Asset Management INC acquired a new stake in shares of Ulta Beauty in the first quarter valued at $37,000. Institutional investors and hedge funds own 90.39% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ULTA. Morgan Stanley upped their price objective on Ulta Beauty from $550.00 to $600.00 and gave the company an "overweight" rating in a report on Friday. Bank of America upped their price objective on Ulta Beauty from $500.00 to $575.00 and gave the company a "neutral" rating in a report on Friday. Wells Fargo & Company boosted their target price on Ulta Beauty from $400.00 to $425.00 and gave the stock an "underweight" rating in a research report on Friday. Canaccord Genuity Group set a $650.00 target price on Ulta Beauty in a research report on Friday. Finally, Barclays raised Ulta Beauty from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $518.00 to $589.00 in a research report on Friday, August 22nd. Thirteen equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $534.75.

Ulta Beauty Stock Performance

NASDAQ:ULTA traded down $37.90 during trading hours on Friday, hitting $492.73. 2,938,427 shares of the company's stock traded hands, compared to its average volume of 676,046. The firm has a market cap of $22.15 billion, a P/E ratio of 18.89, a P/E/G ratio of 2.96 and a beta of 1.12. Ulta Beauty Inc. has a twelve month low of $309.01 and a twelve month high of $538.59. The stock's fifty day moving average price is $498.99 and its two-hundred day moving average price is $427.13.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last posted its quarterly earnings results on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share for the quarter, beating the consensus estimate of $5.03 by $0.75. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.66 billion. Ulta Beauty had a return on equity of 49.73% and a net margin of 10.31%.Ulta Beauty's quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm earned $5.30 earnings per share. On average, equities research analysts predict that Ulta Beauty Inc. will post 23.96 earnings per share for the current year.

About Ulta Beauty

Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.